INTERNATIONAL CURRENCY BUZZ :
- Forex -Dollar pushes higher, euro hit by weak German data
- Forex -Aussie, kiwi pull away from multi-month highs vs. greenback
- Forex -Easing expectations send euro lower
The EURUSD failed to continue its bearish momentum last week topped at 1.1043 after formed two Dojis as you can see on my daily chart below. The bias is neutral in nearest term but as long as stays above 1.0900 price is still in a bullish phase testing 1.1065 and daily EMA 200 located around 1.1100. A clear break and daily close above that area could trigger further bullish pressure testing 1.1250 area. On the downside, we need a clear break below 1.0900 to keep the bearish scenario since formed the shooting star formation remains strong targeting 1.0800 or lower.
The GBPUSD had a bullish momentum last week topped at 1.4248. The bias is bullish in nearest term testing 1.4300 area. Immediate support is seen around 1.4175. A clear break below that area could lead price to neutral zone in nearest term but as long as stays above 1.4080 – 1.4105 I prefer a bullish scenario at this phase and any downside pullback should be seen as a good opportunity to buy. There is a confirmed and a strong buy signal. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement. The upward movement will be until the price is above the Cloud.
- BUY GBP/USD ABOVE 1.4170 TARGET 1.4190 1.4220 SL 1.4140
- SELL GBP/USD BELOW 1.4108 TARGET 1.4088 1.4058 SL 1.4138